July 23, 2015 / 4:13 PM / 3 years ago

UPDATE 1-Barrick Gold director Goodman quits to avoid conflicts

(Adds Barrick spokesman’s comment, updates share price))

TORONTO, July 23 (Reuters) - Barrick Gold Corp, the world’s largest bullion producer, said on Thursday that Ned Goodman has resigned from its board to focus on a new business in the resource sector.

The move thins the ranks of directors with mining experience on Barrick’s board. The company named Goodman, a veteran Canadian money manager with resource-sector experience, as a board nominee in December 2013 after shareholders complained that the board lacked independence and directors with a background in mining.

The board will consider a replacement for Goodman “in due course,” Barrick spokesman Andy Lloyd said in an email.

He said Goodman had resigned due to the potential for conflicts between his new business venture and Barrick.

In June, Goodman became chairman of Oban Mining Corp , a venture that brings together five Canadian gold exploration and development companies and several mining sector veterans.

Barrick shares were down 3.8 percent at C$9.23 on the Toronto Stock Exchange on Thursday, in line with other gold stocks. (Reporting by Susan Taylor and Nicole Mordant; Editing by Meredith Mazzilli; and Peter Galloway)

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